Iris Ventures preps new fundraise as Fund I nears final close

The consumer sector-focused investor is set to reach the EUR 100m target for its first fund before the end of this month, she said. Fund II will have a target of EUR 200m to EUR 250m, Suarez said, adding that she will lead the search for investors and will probably target institutional investors for the new vehicle.

Registered a year ago, Fund I held a first close at the end of last year, having mainly attracted family offices, she said. High-net-worth individuals and founders who have sold their companies have also invested in the fund. Suarez led the search for investors herself and worked with King & Wood Mallesons as legal advisor to create the fund.

Iris Ventures, which collaborates with assets and private equity management firm Altamar, has a team of five people and a branch in London.

Iris Ventures was founded in 2021 by Suarez, who has more than 20 years of experience in corporate venture, investment banking and private equity. It has a team of five people, with headquarters in Barcelona and an office in London.

Investments
Iris focuses on the consumer sector, mainly in beauty, health, wellness, nutrition, education, modern parenting, technology focused on helping day-to-day life, and modern commerce market niches, Suarez said.

The firm has so far invested 20% of Fund I across four companies. It bought minority stakes in French fertility clinic Apricity, in Italian artisan products marketplace Artemest, in the US-based sport clothing Saysh, Suarez said, adding that the firm has also invested in an unnamed European health and wellness business.

About 80% of the fund will target European companies and 20% in US businesses. It plans to invest in 12-15 companies, having one or two seats in the targets’ boards.

The sponsor targets Series A, as lead investor, and sometimes pre-series A or Series B, as co-lead, Suarez said. It invests tickets of EUR 5m-EUR 10m in businesses valued at EUR 20m to EUR 40m and with annual revenues of at least EUR 3m.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• Southern Europe
• Venture